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KTM boss Stefan Pierer warns against going down the wrong path. He told the Salzburger Nachrichten newspaper that punitive tariffs on Chinese cars would severely affect European manufacturers. “Punishment tariffs would be the stupidest thing the EU could do,” the entrepreneur said. “This is also because of the huge success that European exports in China have enjoyed in recent decades.”
Pierre said Europe needs to rely on an incentive scheme based on the US Inflation Reduction Act, rather than punitive measures, to stimulate investment. The motto should be: “If you want to sell your products in Europe, then you have to prove that you add value here.” BYD, China’s largest electric car manufacturer, has realized this and is building a factory in Hungary. The KTM owner believes: “It has to be the right way, a strong approach, but not a hindrance.”
However, the EU’s imposition of punitive tariffs on Chinese cars would be “an all-out attack on European manufacturers.” Pierre pointed out that the Chinese market is very important to European automakers. “China will take countermeasures in response to punitive tariffs, which will seriously affect European automakers and other industries.” In addition, many European electric vehicles are already assembled in China.
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